Equities Lose Steam as FIIs Exit; Volatility at 2-Month High

3 Nov 2025 , 04:46 PM

Weekly Musings – Index Performance for week ended 31 Oct, 2025

FIIs were net sellers in equities worth INR 2,102.87 crore last week. The VIX spiked to 12.15 and touched its highest level in 2 months. The week began on optimism driven by softer US inflation and hopes for rate cuts. However, a hawkish rate cut and lack of any material US-China trade deal increased caution in global markets. The mixed global cues and FII outflows weighed on sentiment. The IT sector remained under pressure amid global tech spending concerns.

BSE SENSEX 30 INDEX – Hawkish rate cut dampened high spirits

Weekly Performance: -0.32%

date	open	high	low	close
31 Oct, 2025	84379.8	84712.8	83905.7	83938.7
30 Oct, 2025	84750.9	84907.0	84312.6	84404.5
29 Oct, 2025	84663.7	85105.8	84638.7	84997.1
28 Oct, 2025	84625.7	84986.9	84219.4	84628.2
27 Oct, 2025	84297.4	84932.1	84294.2	84778.8
24 Oct, 2025	84667.2	84707.4	83957.1	84211.9

Source: BSE

Last week, BSE Sensex opened the week on a strong note but ended with a modest loss. The strong opening rally was based on lower US inflation data, optimism over Federal Reserve rate cuts and improvement in US-China trade relations. However, it was short-lived; the week concluded with the index falling 0.53% on October 31. Foreign capital outflows, waning hopes of further US rate cuts, and weakness in metal and banking sectors were the key culprits. The index hit a high of 85105.8 and a low of 83905.7 during the week. It closed at 83938.7 on 31 Oct, recording a weekly loss of -273.2 pts.

 

NIFTY 50 INDEX – Profit-Taking Sparks Brief Market Pullback

Weekly Performance: -0.28%

date	open	high	low	close
31 Oct, 2025	25863.8	25953.8	25711.2	25722.1
30 Oct, 2025	25984.4	26032.0	25845.2	25877.8
29 Oct, 2025	25982.0	26097.8	25960.3	26053.9
28 Oct, 2025	25940.0	26041.7	25810.0	25936.2
27 Oct, 2025	25843.2	26006.0	25827.0	25966.0
24 Oct, 2025	25935.1	25944.2	25718.2	25795.2

Source: NSE

Last week, the Nifty 50 index dropped 0.28% after recording gains in the previous four consecutive weeks. Profit-taking and mixed global cues increased selling pressure after a strong start. Sector-wise, PSU banks, metals, realty, and infrastructure performed well, while most other sectors saw limited momentum. The index hit a high of 26097.8 and a low of 25711.2 during the week. It closed at 25722.1 on 31 Oct, recording a weekly loss of -73.1 pts.

 

NIFTY MIDCAP 100 INDEX – Midcaps Rally Strongly

Weekly Performance: 1.0%

date	open	high	low	close
31 Oct, 2025	60173.8	60329.8	59779.2	59825.9
30 Oct, 2025	60291.5	60293.3	59828.5	60096.2
29 Oct, 2025	59839.6	60216.6	59672.8	60149.1
28 Oct, 2025	59880.8	59922.1	59515.8	59765.3
27 Oct, 2025	59449.2	59811.7	59365.8	59780.2
24 Oct, 2025	59485.4	59667.7	59078.8	59231.2

Source: NSE

The NIFTY Midcap 100 index extended its gains, driven by selective buying amid improving investor sentiment toward smaller stocks. The index hit a high of 60329.8 and a low of 59078.8 during the week. It closed at 59825.9 on 31 Oct, recording a weekly gain of 594.7 pts.

 

NIFTY SMALLCAP 100 INDEX – Earnings Boost Sparks Small‑Cap Rally

Weekly Performance: 0.7%

date	open	high	low	close
31 Oct, 2025	18518.8	18569.5	18365.2	18380.8
30 Oct, 2025	18519.2	18523.2	18405.6	18469.7
29 Oct, 2025	18416.3	18505.0	18341.8	18487.5
28 Oct, 2025	18445.5	18485.6	18349.0	18407.6
27 Oct, 2025	18306.2	18409.0	18261.8	18403.0
24 Oct, 2025	18319.5	18335.0	18207.7	18253.3

Source: NSE

The NIFTY Smallcap 100 Index ended higher last week, supported by better-than-expected Q2FY26 earnings from several small-cap companies. Optimism in midcap and smallcap stocks grew. The index hit a high of 18569.4 and a low of 18207.7 during the week. It closed at 18380.8 on 31 Oct, recording a weekly gain of 127.5 pts.

 

NIFTY BANK INDEX – Banking Rally Pauses, Momentum Holds

Weekly Performance: 0.13%

date	open	high	low	close
31 Oct, 2025	57942.4	58254.9	57656.9	57776.4
30 Oct, 2025	58152.1	58331.2	57999.2	58031.1
29 Oct, 2025	58316.2	58469.9	58087.1	58385.2
28 Oct, 2025	58006.6	58313.8	57770.4	58214.1
27 Oct, 2025	57796.4	58224.6	57652.8	58114.2
24 Oct, 2025	58172.8	58232.9	57482.1	57699.6

Source: NSE

The NIFTY Bank Index consolidated last week after a sharp two-week rally. It still outperformed the major indices and closed marginally positive. The index hit a high of 58469.9 and a low of 57482.1 during the week. It closed at 57776.4 on 31 Oct, recording a weekly gain of 76.8 pts.

 

NIFTY IT INDEX – Global Tech Sentiment Sparks IT Surge

Weekly Performance: -0.76%

date	open	high	low	close
31 Oct, 2025	35918.6	36050.4	35681.1	35712.4
30 Oct, 2025	36073.1	36127.9	35812.8	35906.4
29 Oct, 2025	35916.1	36201.6	35778.2	36090.1
28 Oct, 2025	36088.6	36193.1	35677.6	35860.4
27 Oct, 2025	36075.6	36279.4	35962.8	36129.1
24 Oct, 2025	36211.4	36268.6	35886.1	35986.4

Source: NSE

The NIFTY IT Index ended lower, weighed by shifts in global tech spending sentiment. The week saw sharp swings as investors traded cautiously amid mixed macro cues. The index hit a high of 36279.4 and a low of 35677.6 during the week. It closed at 35712.4 on 31 Oct, recording a weekly loss of -274.0 pts.

 

NIFTY OIL & GAS INDEX – Energy Stocks Rallied Strongly

Weekly Performance: 3.15%

date	open	high	low	close
31 Oct, 2025	11992.4	12064.4	11956.5	11990.2
30 Oct, 2025	12006.4	12062.9	11927.0	11981.4
29 Oct, 2025	11765.8	12016.9	11761.0	11996.0
28 Oct, 2025	11816.9	11845.5	11702.0	11746.6
27 Oct, 2025	11676.6	11807.5	11670.1	11800.2
24 Oct, 2025	11607.5	11689.5	11556.5	11624.0

Source: NSE

The Nifty Oil & Gas Index was among the top performers, closing the week higher, supported by strong Reliance results. The index hit a high of 12064.4 and a low of 11556.5 during the week. It closed at 11990.2 on 31 Oct, recording a weekly gain of 366.2 pts.

 

NIFTY FMCG INDEX – FMCG Holds Ground, Dips Slightly

Weekly Performance: -0.25%

date	open	high	low	close
31 Oct, 2025	56533.2	56756.1	56168.2	56208.5
30 Oct, 2025	56661.1	56690.4	56099.9	56343.5
29 Oct, 2025	56250.3	56663.9	56127.4	56615.4
28 Oct, 2025	56481.7	56602.2	55851.9	56110.1
27 Oct, 2025	56385.4	56631.3	56265.6	56428.9
24 Oct, 2025	56701.6	56701.6	55926.5	56348.1

Source: NSE

The NIFTY FMCG Index edged down last week. Stable margins and festive demand offered some support, but a cautious outlook weighed on sentiment. The index hit a high of 56756.1 and a low of 55851.9 during the week. It closed at 56208.5 on 31 Oct, recording a weekly loss of -139.6 pts.